This bill amends existing legislation to authorize the New Jersey Economic Development Authority (EDA) to provide grants from the "Global Warming Solutions Fund" specifically for the replacement of inefficient agricultural irrigation equipment with more energy-efficient and water-conserving alternatives. The bill expands the eligibility for funding to include agricultural entities alongside commercial, institutional, and industrial sectors. It outlines a variety of equipment that can be funded, such as drip irrigation systems, soil moisture sensors, and efficient pumps. The EDA, in consultation with the Board of Public Utilities and the Department of Environmental Protection, will determine the grant application process and criteria for awarding funds.

Additionally, the bill stipulates that applicants seeking grants for irrigation equipment must demonstrate that their old equipment has been permanently decommissioned upon project completion. This requirement aims to ensure that the funding leads to tangible improvements in energy efficiency and water conservation. The "Global Warming Solutions Fund" is primarily financed through the sale of greenhouse gas emissions allowances, with the EDA receiving 60% of the appropriated funds, while the Board of Public Utilities and the Department of Environmental Protection each receive 20%.

Statutes affected:
Introduced: 26:2C-51